Core Scientific, a Bitcoin miner, has received approval from the US Bankruptcy Court for the Southern District of Texas for its Chapter 11 reorganization plan. The approval enables the company to re-list on Nasdaq and restructure its equity. The company plans to fully repay its debt and give shareholders about 60% of the company’s new equity when it emerges from Chapter 11. This move marks a major turnaround for Core Scientific, which had been facing bankruptcy.
Due to Bitcoin's rebound, Core Scientific plans to fully repay its debt and give shareholders about 60% of the company’s new equity when it leaves Chapter 11 https://t.co/5PiyjRYGrX
Due to Bitcoin's rebound, Core Scientific plans to fully repay its debt and give shareholders about 60% of the company’s new equity when it leaves Chapter 11 https://t.co/8g3uuT9amL
📣 Overcoming Criticism: #Bitcoin Miners Rise Again — Bitcoin Mining Landscape Overview 📝 Article Highlights: 🔹 Cold Crisis: Texas Miners Slash #BTC Hashrate by 25% to Fortify Local Grid 🔹 Core Scientific Set to Re-List Shares After Emerging From Bankruptcy 🔹Bitcoin #Mining… https://t.co/ZQRkFPDLCl
Core Scientific Set for a Major Turnaround https://t.co/RwsOt2Mzq3
Core Scientific Set to Emerge from Bankruptcy https://t.co/RwsOt2Mzq3
NEW: The 🇺🇸 US Bankruptcy Court for the Southern District of Texas has approved #Bitcoin ⛏️ miner Core Scientific's Chapter 11 plan, enabling the company to re-list on Nasdaq and restructure its equity https://t.co/ElRydqOMAH
Core Scientific is emerging from Chapter 11 bankruptcy and will relist its shares https://t.co/JJjz1YFk3d
ICYMI: Core Scientific says reorganization plan is confirmed by bankruptcy court https://t.co/jqGPNIDkdN
Bitcoin miner Core Scientific gets court approval for restructuring https://t.co/jNy8QuUv3c https://t.co/vLbKy6Kacj
Core Scientific says reorganization plan is confirmed by bankruptcy court https://t.co/4VITknkDzT